Adagene Inc. (NASDAQ:ADAG) Short Interest Up 153.3% in September

by · The Markets Daily

Adagene Inc. (NASDAQ:ADAG – Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 30,900 shares, a growth of 153.3% from the September 15th total of 12,200 shares. Based on an average trading volume of 73,400 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Adagene Stock Performance

Shares of Adagene stock opened at $2.12 on Friday. The firm has a fifty day simple moving average of $2.55 and a 200-day simple moving average of $2.63. Adagene has a 1-year low of $1.30 and a 1-year high of $4.38.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Adagene in a research report on Wednesday, September 18th.

Read Our Latest Report on ADAG

Institutional Trading of Adagene

A hedge fund recently bought a new stake in Adagene stock. Catalina Capital Group LLC acquired a new position in Adagene Inc. (NASDAQ:ADAG – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,752 shares of the company’s stock, valued at approximately $51,000. 9.51% of the stock is currently owned by institutional investors.

About Adagene

(Get Free Report)

Adagene Inc, a clinical stage biotechnology company, engages in the research, development, and production of monoclonal antibody drugs for cancers. The company's product candidates include ADG106, a human ligand-blocking agonistic anti- CD137 IgG4 monoclonal antibodies (mAbs) that is in Phase 1b/2 clinical trials for the treatment advanced solid tumors and non-Hodgkin's lymphoma; ADG126, a masked fully-human anti-CTLA-4 mAb that is in Phase 1 clinical trial for the treatment advanced/metastatic solid tumors; and ADG116, a human ligand-blocking anti-CTLA-4 mAb, which is in Phase 1b/2 clinical development for the treatment of advanced/metastatic solid tumors.

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